Unilever (NYSE:UL) Downgraded by StockNews.com

StockNews.com cut shares of Unilever (NYSE:UL) from a buy rating to a hold rating in a report issued on Tuesday.

Separately, Morgan Stanley cut Unilever from an equal weight rating to an underweight rating and reduced their price objective for the stock from $52.00 to $48.00 in a report on Tuesday, February 27th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Unilever has a consensus rating of Hold and an average price target of $48.00.

Unilever Stock Performance

Shares of NYSE:UL opened at $50.92 on Tuesday. Unilever has a 12-month low of $46.16 and a 12-month high of $55.99. The business has a 50 day moving average of $49.10 and a 200-day moving average of $48.53.

Unilever Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, February 23rd were issued a dividend of $0.4582 per share. This represents a $1.83 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date was Thursday, February 22nd.

Institutional Investors Weigh In On Unilever

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barrett & Company Inc. raised its position in shares of Unilever by 51.5% in the third quarter. Barrett & Company Inc. now owns 606 shares of the company’s stock valued at $30,000 after buying an additional 206 shares in the last quarter. Sage Rhino Capital LLC raised its position in shares of Unilever by 2.4% in the third quarter. Sage Rhino Capital LLC now owns 9,066 shares of the company’s stock valued at $448,000 after buying an additional 215 shares in the last quarter. Marino Stram & Associates LLC raised its position in shares of Unilever by 2.2% in the fourth quarter. Marino Stram & Associates LLC now owns 9,963 shares of the company’s stock valued at $483,000 after buying an additional 215 shares in the last quarter. Pine Haven Investment Counsel Inc raised its position in shares of Unilever by 3.7% in the fourth quarter. Pine Haven Investment Counsel Inc now owns 6,133 shares of the company’s stock valued at $297,000 after buying an additional 216 shares in the last quarter. Finally, Avidian Wealth Solutions LLC raised its position in shares of Unilever by 1.0% in the fourth quarter. Avidian Wealth Solutions LLC now owns 21,616 shares of the company’s stock valued at $1,048,000 after buying an additional 216 shares in the last quarter. 9.67% of the stock is currently owned by institutional investors and hedge funds.

About Unilever

Unilever PLC operates as a fast-moving consumer goods company in the Asia Pacific, Africa, the Americas, and Europe. It operates through five segments: Beauty & Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream. The Beauty & Wellbeing segment engages in the sale of hair care products, such as shampoo, conditioner, and styling; skin care products including face, hand, and body moisturizer; and prestige beauty and health & wellbeing products consist of the vitamins, minerals, and supplements.